Bullboard - Stock Discussion Forum Topaz Energy Corp T.TPZ

Alternate Symbol(s): TPZEF

Energy Oil & Gas E&P

Topaz Energy Corp. is a royalty and infrastructure energy company. The Company is focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada's natural gas producer, Tourmaline Oil Corp. Its asset portfolio is made up of royalty interests across approximately six million gross acres in the Western... see more

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Topaz Energy Corp > Dividend

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Post by Betteryear2 on Nov 04, 2021 4:51pm

Dividend

The Company paid dividends of $27.0 million ($0.21 per share) in the third quarter of 2021 representing a payout ratio(2) of 53%. Topaz's Board has approved a 14% increase to its quarterly dividend and declared its 2021 fourth quarter dividend of $0.24 per share which is expected to be paid on December 31, 2021 to shareholders of record on December 15, 2021. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Topaz's 2022 dividend of $133.6 million is well supported by its estimated 2022 infrastructure FCF(2) of $56.0 million as 78% of Topaz's natural gas processing capacity is fixed under long term contract and its variable processing capacity continues to realize over 95% utilization. Combined with the stable infrastructure revenue, Topaz's dividend is covered at very low commodity prices of C$1.50/mcf AECO and US$45 WTI.